Nike severs 9-year relationship with Livestrong

Livestrong cut ties with Nike on Tuesday. (Bloomberg/Getty Images)

In yet another fallout from the downward spiral that now defines Lance Armstrong's career, the Livestrong cancer charity founded by the former cyclist announced on Tuesday that it has ended its nine-year relationship with Nike, according to a report from the Associated Press.

Officials of the foundation said via a statement that Livestrong is "deeply grateful" to Nike, which helped raise $100 million for the organization over nearly a decade, and will remain committed to helping cancer patients worldwide despite the split, according to the report:

"Together, we created new, revolutionary ways of thinking about how non-profits fuel their mission and we're proud of that...This news will prompt some to jump to negative conclusions about the foundation's future. We see things quite differently. We expected and planned for changes like this and are therefore in a good position to adjust swiftly and move forward with our patient-focused work."